RETAIL PROCUREMENT 4.0 STRATEGIC: IMPACT OF PREDICTIVE B2B PLATFORMS ON PURCHASE DECISIONS AND BUSINESS GROWTH
DOI:
https://doi.org/10.70917/ijcisim-2026-2450Keywords:
Retail Procurement 4.0, Predictive Analytics, B2B Platforms, Purchase Decisions, Business Growth, Supply Chain ManagementAbstract
Background: The Background and introduction of the study has greatly impacted how Retailers are operating their procurement and supply chain. AI powered Predictive Business-to-Business (B2B) procurement platforms have improved decision making capabilities, Supplier Relationship Management, Demand Forecasting and operational efficiencies. Retail Procurement 4.0 brings about a revolution in the process of retail procurement, moving from conventional procurement models to intelligent, information-driven procurement systems.
Objective: In this study, we seek to assess the strategic role of predictive B2B procurement platforms in purchase decisions and business expansion in the retail sector.
Methodology: The research design used was quantitative cross sectional approach of research. A structured questionnaire wsa used to collect data; with procurement managers, supply chain professionals, retail executives and B2B platform users. The following factors were evaluated: predictive analytics use, procurement efficiency, supplier performance assessment, purchase decision accuracy, cost optimization, and business growth indicators. Chi-square test and correlation analysis using SPSS Ver. 27.0 was conducted.
Results: The findings state that the predictive B2B procurement platforms had a major impact on purchase decision-making accuracy, supplier selection efficiency, inventory management and procurement responsiveness. Organizations that used predictive procurement technologies performed better in the following areas than organizations that used traditional procurement systems: operational performance, procurement costs, demand forecasting and business growth.
Conclusion: In the retail industry, predictive B2B procurement platforms are vital for boosting procurement efficiency, making better purchase decisions, and fostering sustainable business growth. By adopting Procurement 4.0 technologies, companies can make bold and wiser decisions on the available data, and enhance operational agility in this rapidly evolving market.
